Latest Mortgages News
Market for newly built homes slows as elevated mortgage rates put off many home shoppers
LOS ANGELES (AP) — Homebuilders who bucked the worst of last year’s housing slump may be seeing their luck run out. After showing signs of strengthening early this year, sales of new U.S. homes fell in April and May from a year earlier by 7.7% and 16.5%, respectively. ...
Average rate on a 30-year mortgage eased this week to 6.86%, lowest level since early April
LOS ANGELES (AP) — The average rate on a 30-year mortgage eased again this week, extending a welcome trend for prospective homebuyers facing record-high home prices. The rate fell to 6.86% from 6.87% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged...
US home sales fall for the 3rd straight month in May amid rising mortgage rates, record-high prices
LOS ANGELES (AP) — Sales of previously occupied U.S. homes fell in May for the third straight month as rising mortgage rates and record-high prices discouraged many prospective homebuyers during what's traditionally the housing market’s busiest period of the year. Existing home...
Average long-term US mortgage rate falls again, easing to lowest level since early April
LOS ANGELES (AP) — Home loan borrowing costs eased again this week as the average rate on a 30-year mortgage declined to its lowest level since early April. The rate fell to 6.87% from 6.95% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.67%. ...
Mortgage rates ease for second straight week, leaving average rate on a 30-year home loan at 6.95%
LOS ANGELES (AP) — Mortgage rates eased again this week, though the latest pullback leaves the average rate on a 30-year home loan at close to 7%, where it's been much of this year. The rate fell to 6.95% from 6.99% last week, mortgage buyer Freddie Mac said Thursday. A year ago,...
Little relief: Mortgage rates ease, pulling the average rate on a 30-year home loan to just below 7%
LOS ANGELES (AP) — The average rate on a 30-year mortgage dipped to just below 7% this week, little relief for prospective homebuyers already facing the challenges of rising housing prices and a relatively limited inventory of homes on the market. The rate fell to 6.99% from 7.03%...
Mortgage rates snap three-week pullback, pushing average rate on a 30-year home loan back above 7%
LOS ANGELES (AP) — The average rate on a 30-year mortgage moved back above 7% this week, a setback for home shoppers at a time when the U.S. housing market is already slowing under the strain of elevated home loan borrowing costs and rising prices. The rate rose to 7.03% from 6.94%...
Long-term mortgage rates ease for third straight week, dipping to just below 7%
LOS ANGELES (AP) — The average rate on a 30-year mortgage dipped this week to just below 7% for the first time since mid April, a modest boost for home shoppers navigating a housing market dampened by rising prices and relatively few available properties. The rate fell to 6.94%...
Report says home affordability in Hawaii is ‘as bad as it’s ever been’
HONOLULU (AP) — Only 1 in 5 households in Hawaii can afford to buy a single-family home — a dramatic drop from just three years ago, according to a grim housing report released by the University of Hawaii on Monday. In 2021, 44% of Hawaii households could afford the mortgage on a...
Long-term mortgage rates retreat for second straight week, US average at 7.02%
The average rate on a 30-year mortgage in the U.S. fell for the second straight week, giving some relief to home shoppers already facing sky-high prices and a shortage of supply. The average 30-year rate fell to 7.02% from 7.09% last week, mortgage buyer Freddie Mac said Thursday. A...
